Osool & Bakheet IPO on Nomu 305% oversubscribed, 10 shares allocated per subscriber

Logo of Osool & Bakheet Investment Co.

Osool & Bakheet Investment Co. (OBIC) completed the book-buildings process and initial public offering (IPO) of 1.5 million shares, or 25% of its shares before the IPO and capital increase, Amwal Financial, the financial advisor, said.

The shares on offer represented 18.52% of the company’s post-IPO and post-increase capital.

The IPO was 305% oversubscribed with a minimum of 10 shares allocated per subscriber, Amwal said in a statement to Tadawul.

Surplus refunds will be paid no later than Oct. 26.

Amwal will complete the necessary paperwork with Saudi Exchange Co. (Tadawul) to set the listing date, the statement added.

Qualified investors subscribed to all shares on offer at SAR 45 each, the top of range.

The offering price range was set between SAR 45 and SAR 37 per share.

For More IPOs